Bragg Gaming Generates €20.6 Million in Revenue in Third Quarter

Bragg Gaming Group has announced its financial results for the third quarter of 2026. Total revenue came in at €20.6 million, a 23% decline compared with a year earlier. Normalized revenue, excluding Brazil and Drayton, was calculated at €20.0 million, down 12% year over year.

The company said the drop in revenue was largely driven by player migration on its Dutch platform and by third-party providers moving to direct integrations with operators in Brazil. Revenue from proprietary content used in Canada and the United States rose 7% year over year and increased 21% over the nine-month period.

Gross profit margin rose to 56% from 55% in the same period last year. The company attributed this increase to growth in the share of its own content and a decline in aggregated content volume.

Operating loss was €3.2 million, compared with €1.2 million in the same period last year. Adjusted EBITDA was reported at €3.0 million, a 33% decrease. The company said the €3.1 million decline in gross profit exceeded cost savings of approximately €1.6 million achieved during the quarter. It also reported that restructuring programs announced at the start of 2026 and in July reduced its global workforce by approximately 27%.

On 22 July 2026, the company acquired Drayton International entirely in shares for $9 million. In Brazil, service to licensed customers was halted following a government decision to suspend licensed online betting and casino games. The company stated that Brazil revenue consisted mainly of low-margin aggregated content and that the impact on cash flow had been limited.

Management changes were also made. On 6 November 2026, Morten Tonnesen was appointed interim general manager, while Matevž Mazij took on a new role as strategic adviser.